HANOI: Copper prices rose on Tuesday, as the dollar paused for breath ahead of a highly-anticipated testimony from the US Federal Reserve chair Jerome Powell due later in the day, making the greenback-priced metals cheaper to holders of other currencies.
The dollar has gained sharply since the Fed last week flagged sooner-than-expected interest rate hikes, but dipped on Monday as markets looked to testimony from Powell for guidance on the US central bank.
Three-month copper on the London Metal Exchange was up 0.6% at $9,238 a tonne, as of 0336 GMT, while the most-traded July copper contract on the Shanghai Futures Exchange advanced 1.2% to 67,600 yuan ($10,461.00) a tonne.
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